Paolo ArdoinoVerified account

Imagine being a tether truth in the face of increasing information by tether and other stablecoin providers that everything you think you know is actually incorrect. Day by day, your fundamental position becoming more and more untenable.

I’m no Tether truther but if Tether is doing everything above board, Paolo gets an F for his leadership. He’s providing *decreasing* information. Tether promised audits but have only produced attestations. They’re producing the smoke to lead everyone to believe there’s fire.

Why can't all the stablecoins not just hold USD on a bank account? Isn't that the most trivial and honest thing to do? The urge to make an extra % must be unfathomable.

I guess it costs a lot of money to run a business like this. You need a ton of employees and high costs, and I think in/out fees would be too high for the customers if Tether relies on only that.